Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  

Multi-billion assistance package to Australian car industry

Recommended Posts

The Australian car industry will be given a multi-billion assistance package by the federal government which could be announced by Monday, The Australian Financial Review reports.

The newspaper says the package will include support in the 2008-09 financial year for the autocomponents sector, which has been gutted by widespread jobs cuts. Redundancies have also fed into the major car companies, with Ford the biggest victim.

It's hoped the package will help boost the sector's ability to obtain finance and boost its competitiveness as the global financial system continues to struggle.

Automakers worldwide have laboured recently as consumers put the brakes on spending.

Local carmakers have specifically been hit by a shift in consumer preference towards more fuel efficient, smaller cars, which was exacerbated by the soaring cost of fuel on a skyrocketing oil price.

Original article:


Share this post

Link to post
Share on other sites

Don't get too excited, it doesn't actually begin until 2011.

In Australia we might call this a Clayton's assistance package—it's the assistance you get when you don't get any assistance.

Edited by thegriffon

Share this post

Link to post
Share on other sites

Further the overall Green Car Plan will provide:

• A better-targeted, greener, $3.4 billion assistance program, the Automotive Transformation Scheme (ATS), running from 2011 to 2020;

• Changes to the Automotive Competitiveness and Investment Scheme in 2010, consistent with the Bracks review proposals, to smooth the transition to the ATS ($79.6 million);

• $116.3 million to promote structural adjustment through consolidation in the components sector and to facilitate labour market adjustment;

• $20 million from 2009–10 to help suppliers improve their capabilities and their integration in complex national and global supply chains;

• $6.3 million from 2009–10 for an enhanced market access program;

• A new Automotive Industry Innovation Council, bringing key decision makers together to drive innovation and reform; and

• A $10.5 million expansion of the LPG vehicle scheme, to start immediately, that doubles payments to purchasers of new vehicles using LPG technology

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Who's Online   1 Member, 0 Anonymous, 19 Guests (See full list)

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.